Seeds Fincap Raises Rs 50 Crore Pre-Series B Led by Z47 and Lok Capital
• Seeds Fincap raises Rs 50 crore in pre-Series B funding led by Z47 and Lok Capital.
• Funds to support regional expansion, tech upgrades, and growth acceleration ahead of Series B.
• Company operates 120 branches, manages Rs 500+ crore assets, with NPAs below 2%.
Seeds Fincap, a non-banking finance company (NBFC) focused on lending to underbanked micro, small, and medium enterprises (MSMEs), has raised Rs 50 crore in a pre-Series B funding round led by existing investors Z47 and Lok Capital. The round also included participation from new investors Norinchukin Capital and Alteria Capital.
The firm intends to deploy the new capital to enter new geographies, upgrade its technology and risk infrastructure, and fast-track growth prior to its next Series B round. Established in 2021 by Subhash Chandra Acharya and Avishek Sarkar, Seeds Fincap has 120 branches over eight states and has given more than Rs 1,000 crore in loans. It has assets under management of over Rs 500 crore with a non-performing asset (NPA) level of less than 2%, says the firm.
"Our method, combining sophisticated analytics, strong field control, and end-to-end digitization, allows us to lend responsibly at scale. This round of funding confirms our model and sets us up nicely for the next phase," said Acharya, Managing Director and Co-founder. Sarkar, Director and Co-founder, further added,
Empathetically solving complex challenges for MSMEs requires. Our culture of execution and contextual intelligence is delivering real results.". This investment will enable us to deepen penetration, expand our product lines, and grow responsibly.
Anish Patil, Vice President of Z47, lauded Seeds Fincap's technology-enabled field operations, robust credit underwriting, strict portfolio monitoring, and diversified footprint for achieving exceptional asset quality in a tough market. Rajat Bansal, Managing Director at Lok Capital, appreciated the company's unique combination of high-quality credit, strong market penetration, and significant contribution.
Hiroki Kawabata of Norinchukin Capital highlighted the company's capability to remain humble while creating scalable technology-enabled systems, and Ankit Agarwal, Managing Partner at Alteria Capital, liked their customer understanding and disciplined scaling strategy.
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